Colorado Real Estate Journal - February 4, 2015
A technology company recently exercised its option to buy an industrial building in the Colorado Tech Center for $1.79 million. XetaWave, which makes radios for wireless communications networks, paid $106.93 per square foot for the 16,740-sf building it occupies at 258 S. Taylor Ave. in Louisville. AvaDan LLC was the seller. XetaWave moved to the property from Boulder last year. The building was built in the early 1990s. Omni Promotional purchased it while it was under construction and occupied the property until moving to a larger building in the tech center five years ago. AvaDan purchased the property at that time, according to Andrew Freeman of Freeman Myre. Freeman represented AvaDan in the sale to XetaWave. XetaWave makes “software-defined” radios for use in industries including oil and gas, water and wastewater, electrical power and industrial controls.
Johnson Kightlinger and Co. recently secured a long-term lease for 4,562 square feet at 4999 Pearl East Circle in Broadway. The company has been at 2300 Broadway for more than 30 years. “We are happy we could find a new office space in Boulder that is well managed, conveniently located and affordable. We look forward to continuing our work in the Boulder business community,” said Mark Kightlinger of Johnson Kightlinger. Todd Walsh of The Colorado Group, who represented the tenant, said rising rents and limited availability are pushing some tenants out of downtown Boulder and into other parts of the city. “Office rates are on average 20 percent less than their downtown counterparts and landlords are more willing to participate with tenant finishes, free rent and other incentives to lease their properties,” he said.